ARLINGTON, Va., February 16, 2022 /PRNewswire-PRWeb/ — FD Stonewater completed the acquisition of 6000 Spine Road in Boulder, Colorado. The 60,000 square foot, fully leased office building is located in Gunbarrel Business Park and surrounded by numerous Fortune 500 companies in the life sciences and technology sectors.
Despite the market uncertainty caused by the pandemic, Boulder’s The office market remained resilient, thanks in large part to stable and diversified economic drivers, high barriers to entry and a strong talent pool. The opportunity to acquire an office asset that exhibits healthy cash flow and multiple avenues of growth at a significant discount to replacement cost in Rock was convincing.
FD Stonewater Main Andrew Schwartzman commented: “We are delighted to add this asset to our portfolio and excited to enter the Rock Marlet. The property’s occupancy rate has increased from around 70% to 100% during our acquisition search, demonstrating the health of the market, and we believe there are further upside opportunities as well. Our team continues to evaluate unique strategic opportunities in high-growth secondary markets across the country. This property fits perfectly into this strategy and is an attractive addition to FD Stonewater’s investment portfolio. We hope this is the first of many Rock.”
About FD Stonewater
FD Stonewater is a fully integrated real estate investment, development and brokerage firm headquartered in Arlington, Virginia. Collectively, the company’s management has a track record of over $10 billion in investment acquisitions and advisory services, with more than 45 million square feet of completed leasing transactions and more $1 billion in the main active and completed development and construction management nationwide. For more information, visit http://www.fdstonewater.com
Catherine NussFD Stonewater, 703-537-7628, [email protected]
SOURCE FD Stonewater